Broadstone has acquired actuarial and financial services consultancy OAC plc.
The employee benefits consultancy said its new acquisition’s focus on serving life and non-life insurers and redress clients, alongside its data analytics and financial modelling capability would complement Broadstone’s existing and actuarial expertise.
Broadstone added the transition for OAC clients will be “seamless” as they will continue to be served by the same team upon OAC’s integration and they will also benefit from a wider set of services the expanded group offers.
It also committed to maintaining OAC’s brand and culture following the acquisition.
Tony Gusmao, CEO at Broadstone, said: “Broadstone is focused on offering excellent services to our clients and, when opportunities arise, investing in businesses with complementary services that we can help to grow.
“OAC’s relentless focus on high value consulting and actuarial services make it an ideal addition to Broadstone.”
Darren Richard, CEO of OAC, added: “Combining our 30-year track record of providing high-quality services to the insurance sector with Broadstone’s pensions and benefits expertise is an exciting step for OAC.
“The transaction means we can continue to offer our clients the same level of dedication and sector specialism that made OAC successful while expanding the range of services we offer and building a platform for the future growth of the business.”